Business, Technology, Autonomous

VW Pulls Truck Unit IPO in Setback to CEO’s Agility Revamp

Volkswagen AG canceled plans for a partial share sale in its Traton SE division, citing weak markets, a setback to the automaker’s plan to generate fresh funds for the heavy-truck unit’s expansion outside of Europe.

Elisabeth Behrmann | Bloomberg News
March 13, 2019
Business, Technology, Logistics

Ford’s Global Cost Purge Hits Europe With Thousands of Job Cuts

Ford Motor Co. said it will cut thousands of jobs, weed out slow-selling variants and potentially close entire factories in Europe, as the carmakers’s global cost-cutting drive targets a region that has been a drag on earnings for years.

Elisabeth Behrmann | Bloomberg News
January 10, 2019
Government, Business

VW, Daimler and BMW Brace for Tariffs

Investors in European carmakers are once again facing months of share volatility after the U.S. circulated a draft report on tariffs and European Commission President Jean-Claude Juncker signaled a cease-fire in the looming trade war may soon come to an end.

Elisabeth Behrmann | Bloomberg News
November 13, 2018
Government, Business, Equipment

Global Auto Sector Likely to Feel Effects of Tariffs

Over the past three decades, the global auto industry has gotten, well, more global. Manufacturers built scores of factories outside their home countries to reduce exposure to currency swings, take advantage of cheaper labor and manufacture cars closer to buyers.

Elisabeth Behrmann | Bloomberg News
June 22, 2018
Business, Technology, Fuel

German Electric Carmakers Pose Threat to Tesla

Major German carmakers are rolling out stylish, sporty electric vehicles in the mold of Tesla's Models S, X and 3. Unlike Tesla, they have roughly a century of experience launching models every few months and can spread development costs across a broad portfolio.

Elisabeth Behrmann | Bloomberg News
May 2, 2018
Business

VW Board to Consider Truck IPO, Other Sweeping Changes

Volkswagen AG’s supervisory board is meeting April 12 to push through a change in top management and organization, after a rushed statement left more questions open than answered.

Elisabeth Behrmann | Bloomberg News
April 12, 2018
Business

Daimler Says Future Deals With Geely Hinge on China Partner BAIC

Daimler AG said future collaboration with its new largest shareholder Li Shufu will hinge on keeping the manufacturer’s existing Chinese partner on board.

Elisabeth Behrmann | Bloomberg News
March 6, 2018
Business, Technology, Equipment

Daimler Throws Shade at Tesla as Truck Rivalry Heats Up

Daimler AG cast doubt on Tesla Inc.’s plan to deliver electric heavy trucks next year, saying its more modest goal to start selling battery-powered big rigs by 2021 is more realistic.

Elisabeth Behrmann | Bloomberg News
February 21, 2018
Business, Equipment

Volvo Sees Rising Global Truck Demand Straining Supply Chain

Volvo AB boosted its forecast for truck markets in the U.S. and Europe this year as low fuel prices and interest rates push demand, a development that’s expected to put more strain on an already tight supply chain. The shares rose the most in three months.

Elisabeth Behrmann | Bloomberg News
January 31, 2018
Business, Technology

Mercedes Plans More Drone Deliveries After 100 Perfect Flights

Mercedes-Benz, conducting the biggest test using drones to ship everyday items such as ground coffee and cellphones, said the mini-aircraft completed 100 drop-offs to strategically placed vans in Zurich with a perfect safety record, and more deliveries are planned for next year.

Elisabeth Behrmann | Bloomberg News
November 28, 2017